$USDCAD | H1 Bulls vs Bears Situation

On the 1 hr time frame, price action has been one of a bulls vs bears situation since May 29th up until June 14th. The bulls finally showed their strength, pushing price action out of the upper channel resistance area at $1.3025, to current levels at $1.3260. We believe the bulls succeeded due to influence from other weakening USD cross pairs, which would likely be influenced again should these USD cross pairs reverse their direction. Keep an eye on EURUSD as the leader of influence, should it show signs of strengthening, watch how USDCAD bears return in force to push it downwards.